what is the best indicator for spotting support & resistance on charts?
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@amosglad01
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1 month ago
Simple Moving Average (SMA) & Fibonacci Retracement are some good indicators I use. My 14-day SMA curve acts as support when price is above it and acts as resistance when price is below it. It is not perfect, so I don't rely on it 100% i just use it as a guide.
Fibonacci retracement levels can also act as support and resistance, especially the golden fib level of 61.8%